Michael Aloi, CFP®
With 17 years of experience in the financial services industry, Michael Aloi specializes in working with executives, professionals and retirees. Since he joined Summit Financial, LLC, Michael has built a process that emphasizes the integration of various facets of financial planning. Supported by a team of in-house estate and income tax specialists, Michael offers his clients coordinated solutions to scattered problems. Outside of work, he enjoys spending time with his wife and three children.
E-mail: maloi@sfr1.com | Website: www.michaelaloi.com | LinkedIn: www.linkedin.com/in/michaelaloi/
Latest articles by Michael Aloi, CFP®
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Social Security ... What I Like About It (and What I Don’t)
social security A financial adviser shares some pros and cons about Social Security, the linchpin for most people’s retirement plans. Do you agree, and what does it mean for your retirement?
By Michael Aloi, CFP® Published
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IRA Tax Planning: Minimizing the RMD Ticking Time Bomb
required minimum distributions (RMDs) Couples with a bit of an age difference have an interesting strategy available to them to reduce taxes on their retirement savings due to required minimum distributions.
By Michael Aloi, CFP® Published
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A Woman’s Guide to Long-Term Care
Long-Term Care Insurance Who needs long-term care insurance … and who might be able to do without it?
By Michael Aloi, CFP® Published
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How to Pre-Fund a Legacy So You Can Enjoy Your Retirement Guilt-Free
inheritance If you want to ensure your kids will get the inheritance you had in mind for them — and you want to be able to spend the rest of your money on yourselves in retirement without worry — here’s one way to do that.
By Michael Aloi, CFP® Published
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Taxes, Taxes and More Taxes
tax planning In light of the recent proposals by President Biden and Sens. Bernie Sanders and Chris Van Hollen, here’s what could be coming and some ideas on how to plan for it.
By Michael Aloi, CFP® Published
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How to Take a Pension: A Math Formula Drives 1 Retiree’s Choice
retirement planning Ever hear of the pension income ratio? This mathematical formula can help you decide whether it makes more sense to take a lump sum or a series of pension payments.
By Michael Aloi, CFP® Published
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Want More Tax-Free Retirement Income? One Man’s Whole Life Decision
life insurance Whole life insurance might not be something that’s on your retirement planning radar, but for this client, here’s how it served his need to control taxes, allow for income and provide a death benefit to his daughters.
By Michael Aloi, CFP® Published
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4 Ways to Dilute a Concentrated Stock Risk
investing For investors, it’s possible to have too much of a good thing, and it can be disastrous to have too much of a bad thing. Is your portfolio overweighted in a single stock? Here’s how to tell and some strategies to help regain your balance.
By Michael Aloi, CFP® Published
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3 Bargain Stocks for 2021
investing Finding bargains in the stock market is never easy. But here are three stocks that got beaten up last year and I like for 2021.
By Michael Aloi, CFP® Published
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3 Investment Tips for 2021: Trends to Watch and Moves to Make
investing Opportunistic investors should keep an eye out for movement in these key sectors, and everyone will want to make a couple tried-and-true moves to shore up their portfolios in the new year.
By Michael Aloi, CFP® Published
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Debt After Death: What You Should Know
debt Some types of debts are forgiven when you die, and others could haunt your family until they’re paid off.
By Michael Aloi, CFP® Published
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Caught in the Middle: How Young Parents Can Plan for Long-term Care
Long-Term Care Insurance One family’s story shows how important long-term care plans are … and how whole life insurance with a long-term care rider can help.
By Michael Aloi, CFP® Published
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Boost Your Retirement Income in 3 Steps
personal finance Low interest rates are a big challenge for retirees today. To help cope, try these three strategies.
By Michael Aloi, CFP® Published
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Checklist: Steps to Take after Your Spouse Dies
retirement Feeling overwhelmed? A checklist can help you figure out where to start and tasks you may be able to put off.
By Michael Aloi, CFP® Published
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Whole Life Insurance … Love It or Leave It?
life insurance Low interest rates can be bad news for these types of policies. Here are 3 reasons why now is a good time to review your policy with an in-force illustration from the carrier.
By Michael Aloi, CFP® Published
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Do-It-Yourself Index Funds: A Smarter Way to Own the Index?
investing Index funds are easy, but when you buy them you are giving up your chance to take an important tax break. So, if you're willing to roll up your sleeves and do some work, you could build a better fund yourself using sector ETFs.
By Michael Aloi, CFP® Published
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Whole Life Insurance: It's a Swiss Army Knife for Financial Planning
retirement How does whole life insurance work? What are some of its pros and cons? And could it be right for you?
By Michael Aloi, CFP® Published
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5 Bear Market Lessons Learned from 20 Years as a Financial Adviser
retirement When stock markets are tanking, jumping, shaking and diving, here's what works for investors and retirement savers, and what doesn't.
By Michael Aloi, CFP® Published
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Stay the Course, Stay the Course, Stay the Course
investing Investors are being tested by the stock markets: Can they stay the course? Should they? Take a look at a few charts of market performance over the long term to see the case for sticking with a diversified portfolio.
By Michael Aloi, CFP® Published
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3 Ways to Claim a Life Insurance Benefit: Which Is Right for You?
insurance When you are due a life insurance death benefit, a lump sum payment isn't your only option. There are typically three main ways to take your benefit, and each has its own pros and cons.
By Michael Aloi, CFP® Published
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How to Make Investing More Meaningful
investing Saving and investing may seem mundane to some, but there are ways to make it more fulfilling. Here are three strategies to do good things with your money, now and long after you're gone.
By Michael Aloi, CFP® Published
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A Widow's Broker Made a Huge Mistake
retirement A step-up in basis can be a massive tax benefit for surviving spouses, but only if it's managed correctly. And sometimes, as in this case, important details can fall through the cracks.
By Michael Aloi, CFP® Published
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Should a Widow Pay Off Her Mortgage?
real estate For some people who lose their spouse, it could make perfect sense. For others, not so much. Here's how to judge what could be a prudent approach in this stressful and confusing time.
By Michael Aloi, CFP® Published
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A Financial Planner's Guide to Open Enrollment
Employee Benefits As you read up on your health insurance, life insurance and other options for 2019, here are five tips to help get the most out of your workplace benefits.
By Michael Aloi, CFP® Published
Employee Benefits